Apr 20, 2009 - Issue #159
Tea Party Protests!
Tea party protests full of angry disillusioned voters broke out all across America this
week. The people are speaking. Is tone deaf Washington listening? Apparently not.
According to Homeland Security Secretary, Janet Napolitano, in a secret 'not to be
released to the public' memo to police organizations throughout the nation, elevated
citizens that stood up for their rights by attending protest gatherings as potential
security threats and should be put under surveillance; especially, military veterans, and
anyone with pro gun, pro life, anti-same sex marriage bumper sticker/decals on their cars.
Fortunately, even the police vomited over this one and couldn't release the memo fast
If people are wondering why the markets are so difficult, look no further than
government interference in areas that are none of their concern. Call it what you will,
moral hazzard, too big to fail bailouts, out of control spending, the people are fed up
with their elected representatives.
The people have it within their power to change what they feel needs changing. It's
called the 'Vote'. Will they exercise that power in the November, 2010 elections?
As for the market, We're still looking for an intermediate top to form. This week rose
on heavier volume with a narrower range. Doesn't that look 'toppy' to you?
W. D. Gann, a keen market observer, although not an astronomer, nevertheless, was
fascinated by the apparent coincidence of important market 'pivot points' and astronomical
dates. Theories exist for estimating time and price of important market turning points but
astronomical occurrences are computed with mathematical certainty.
There is no logical reason why these occurrences should coincide yet, empirically, they
have. The 'Full Moon' and 'New Moon', among others, have been cited. Therefore, one might
be well advised to be aware of their occurrence. Note: The first 5 business days of 2008
concluded on a 'New Moon' and we all know how that worked out. Coincidence?
4/24 Friday - New Moon.
During the next two weeks, the following Dow components report earnings. Keep a sharp eye
out for possible price swings leading up to 'earnings day' (Subject to revision):
4/20 AXP, BAC, IBM.
4/21 DD, KO, MRK, UTX, (Transportations) CHRW.
4/22 BA, GM, MCD, T, (Transportations) CAL, R.
4/23 MSFT, (Transportations) BNI, CNW, GMT, JBLU, UNP, UPS, YRCW.
4/28 PFE (Transportations) NSC, OSG.
4/30 PG, XOM.
Dow score card for the week ending 4/17/09.
DJ-30: 8131.33 +47.95 +0.59%. The Real World (arithmetical) DJ-30: 34.03 +0.20 +0.59%.
UP: 17, Down: 13.
Trends (weekly charts): This is the subjective part.
Rising (Generally Higher Highs/Higher Lows) 13 (-3) 43%:
AA, AXP, BAC, C, DD, +*DIS, GE, HD, HPQ, JPM, MMM, +*PG, UTX.
Consolidating (Generally Lower Highs/Higher Lows) 16 (+2) 53%:
-*BA, -*CAT, CVX, GM, IBM, -*INTC, JNJ, KFT, KO, -*MCD, -*MSFT, PFE, T, VZ, WMT, XOM.
Declining (Generally Lower Highs/Lower Lows) 1 (+1) 3%:
+/- denotes change of direction.
* denotes change of category.
Comments? Ideas? Feedback? Let me have it, right between the eyes! I'd love to hear from you. Just reply to this zine and tell me what you think!